NYK will participate in the design, development and engineering work of a floating LNG storage and regasification power generation facility in Papua New Guinea.
The new FSRP facility will have the capacity to generate 75 megawatts of power to be exported to the local transmission grid and will be able to load and store 140,000 cubic meteres of LNG that can be offloaded to small scale vessels and redistributed to local areas.
The FSRP facility will be located near Lae, the capital of Morobe province in Papua New Guinea. NYK, a Japanese shipping company, joins the Chiyoda Corporation and Moss Maritime AS, a Norwegian company on the project. This design, development and engineering work contract was received by the Chiyoda Corporation from Kumul Petroleum Holdings Limited, a national oil company in Papua New Guinea.
The project is an important step toward meeting the supply and demand requirement set out in the Papua New Guinea Development Strategic Plan 2010– 2030. The plan has set a goal of connecting 70 per cent of the Papua New Guinea population to secure electricity by 2030.
It will additionally contribute to the reduction of greenhouse gas by providing environmentally friendly and sustainable energy to meet the increasing demand for industrial power generation in the country in the future.